With the current price of $0.29, the stock of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) concluded the trading session seeing its price rise by 0.01 points or at a gain of 3.52% compared to its previous day’s closing price of $0.28. About 13.208 million shares of the stock changed hands on the day. The trading volume of SNSS’s shares during the past session compares with the stock’s average daily trading volume of 13.255 million shares. On the other hand, a float of 65.91 million shares and a weekly performance of -7.13% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for SNSS’s share which suggests that the stock, price of which is currently buoying between $0.275 and $0.29, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $1 to the stock.
The latest data released on July 31, 2020 shows that the short float in the Sunesis Pharmaceuticals, Inc.’s stock is trending upward as short interest in SNSS shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the SNSS is currently comprised of 15.18% of the float as the volume of shorted shares inclined by 6979342 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 10.007 million shares from the previous figure of 3.028 million shares. Stock’s average intraday volume is now standing at 25.09 million shares which indicate that the days to cover the shorts are nearly 1.
After concluding the day’s trading, price of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) is down -$0.0219 over the week and it is -$0.0517 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $1.13 that was attained on 02/26/20.
The stock has traded as low as $0.1951 in past 52-week, and its current price is 46.28% above from that 52-week low price mark recorded on 12/05/19, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 1.85. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 43.74 as 14-days RSI of Sunesis Pharmaceuticals, Inc. This means that the SNSS is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 13.52%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $0.2919 for the SNSS’s share while placing it at a 2nd resistance point of $0.2985 to be settled at. But if the stock takes a plunge lower than the 1st support price of $0.2769 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $0.2685.
MACD oscillator is showing a reading of -0.0175 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Oppenheimer lowered its recommendation for SNSS stock from Outperform to Perform in a review note dated June 24. The stock gets its recommendation downgraded from Overweight to Equal Weight from the analysts at Wells Fargo who assigned a target price of $3 to $1 in their March 11 note to investors.H.C. Wainwright analysts started covering the stock with recommendation of Neutral rating on December 20.
The average rating of 3 for SNSS is placing the stock in bullish category at the moment. In a poll by Reuters including 4 analysts in it who kept tracking the Sunesis Pharmaceuticals, Inc., 4 rated the stock as hold. Others were in different opinions for the SNSS. Out of remaining 0 analysts, 0 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.